AEC Affirms Nigeria’s Indigenous Companies’ Capacity To Create Value From Oil Production

The African Energy Chamber (AEC), has said as foreign operators continue to reduce their onshore exposure, Nigerian indigenous oil firms are stepping in to fill the gap, with local firms now accounting for more than half of the country’s oil and gas output.

According to executive chairman of the chamber, NJ Ayuk, their participation by combining upstream production, gas processing and local refining is central to ensuring more value from African resources is retained within the continent.

The comment is coming after Aradel Holdings, the largest oil and gas company listed on the Nigerian Exchange, announces its participation as an Associate Sponsor at African Energy Week (AEW) 2026...